Lloyds Seen Hurt Most by Osborne Restricting Tax Relief

December 3, 2014 3:20 PM

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Lloyds Banking Group Plc (LLOY) will take the biggest hit under U.K. Chancellor of the Exchequer George Osborne’s plan to raise 4 billion pounds ($6 billion) more in tax from banks over five years, Bloomberg Intelligence said.

The 25 percent government-owned lender had about 5 billion pounds of deferred tax assets at the end of June, analysts led by Jonathan Tyce wrote. Osborne plans to limit the amount of tax relief banks can claim on these assets from next April, he said in his Autumn Statement presented to Parliament i...

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